Netflix's (NASDAQ: NFLX) stock has been beaten down in 2022, suffering from a perfect storm of increased competition, rising inflation, and comparisons against 2021, when millions of home-bound consumers flocked to streaming platforms. As a result, the company's stock has plunged 53% since January. 

The majority of its losses came on April 20, when its share price fell 37% in a single day after Netflix revealed a loss of 200,000 subscribers in the first quarter of 2022. The subscriber declines sent investors running for the hills, as they represented the first losses in a decade. 

However, Netflix has responded by making swift changes to its business and restructuring its streaming strategy. The company's ability to quickly adapt to a changing market, along with an improved second quarter and a glowing third quarter, make Netflix stock an excellent buy. Here's why. 

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Source Fool.com